BitMex Review

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Bitmex Review
Bitmex Review

BitMEX Review – Bitcoin Mercantile Exchange And Trading Platform

Also known as Bitcoin Mercantile Exchange, BitMEX was founded by Ben Delo, Samuel Reed, and Arthur Hayes. All of them shared expertise in the financial services industry. Originally the company was founded in 2014 in Seychelles under the name HDR (Hayes, Delo, Reed) Global Trading Limited.

BitMEX works differently as compared to other firms and is more suited to experienced campaigners. As a user, you can trade contracts for cryptos, in combination with margin trading, rather than the tokens themselves. Although the company offers contracts for different cryptocurrencies, you can only use bitcoin for withdrawals and deposits.

Currently, it is a growth period for the company, and they have recently hired Alexander Höptner as their new CEO. Alexander is a renowned name on the German Stock Exchange. If you are a beginner, then you should study this company well because it mostly suits the experienced traders.

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Important Features

As mentioned above, BitMEX is a bit unorthodox platform that has a strong focus on marginal trading. The users on this platform trade “contracts” rather than crypto itself. Most importantly, users can leverage their trade up to 100x.

This trading method is highly volatile, which also makes it very risky. A user can make a significant amount of quick money with smaller investments. Or, they can lose their whole investment in the blink of an eye. Therefore, beginners don’t find this platform very enticing because if you don’t have enough or needed experience, you might lose it all.

Here are different types of contracts offered by the company.

Futures Contracts

Future contracts mean buying or selling specified cryptos at a future date (predetermined) at a fixed predefined price.

Perpetual Contract

These are almost similar to the futures contracts, except these contracts don’t have any settlement or expiry.

Upside Profit Contract

This contract is usually based on potential profits on given crypto. The user has to pay a fee on the trade date. Then, at the maturity date, the user will be given the difference between the strike price and crypto price. However, if the prices don’t go upward, the user will get nothing at all.

Downside Profit Contract

It is the exact opposite of upside profit contracts. The user pays the fee, and then the user will be paid with the difference (mentioned above) if the prices go down on the maturity date of that specific crypto.

BitMEX Review - BitMEX Is A Bitcoin Mercantile Exchange And Trading Platform. Trade Bitcoin And Other Cryptocurrencies With 100x Leverage.

Fee Structure

BitMEX has a competitive fee schedule, but users won’t find it a burden because they can earn massive profits on this platform if they use this platform properly.

The fee for takers is 0.075 percent, whereas the makers have to pay 0.025 percent. Here is the complete fee schedule.

One of the best and most appealing things about BitMEX is that deposits and withdrawals are completely free on this platform. Moreover, you don’t have to worry about any additional costs.

BitMEX doesn’t welcome US investors. If you are a US investor, this is not an option for you. However, US investors have other options such as CEX.io, Kraken, KuCoin, etc.

Pros

  • Highly advanced security.
  • Users can earn massive profits.
  • Regular new features

Cons

  • Only suitable for experienced users

Conclusion

You can be a member of this company the next minute. All you have to do is to sign up at BitMEX and send in some Bitcoins. Your profits start calculating the moment you successfully make a deposit.

Visit the Official BitMEX website


FAQ

  • What is BitMEX?

    BitMEX is the world’s most advanced peer-to-peer crypto-products trading platform, supported by the best-in-class API, and giving knowledge, confidence, and precision to hundreds of thousands of traders, transacting the equivalent of billions of USD every day.

  • Can US Citizens use Bitmex?

    Yes. Bitmex accept traders from the United States.

  • Is Bitmex safe?

    Yes. BitMex utilise a range of processes to keep funds and transactions safe. Wallet security includes multisignature deposits, and two levels of human audit on each transaction. The system, trading engine and communication all have individual security protocols in place. 0coins have been lost through hacking or intrusion.

  • How much are BitMex fees?

    There are no fees for deposits or withdrawals. Fees apply to trades. These vary based on the cryptocurrency being traded and the amount of leverage used. The fee for takers is 0.075 percent, whereas the makers have to pay 0.025 percent.

Visit the Official BitMEX website

BitMEX score
  • 9.6/10
    Cost - 9.6/10
  • 9.7/10
    Support - 9.7/10
  • 9.7/10
    Reliability - 9.7/10
9.7/10

BitMEX Summary

Also known as Bitcoin Mercantile Exchange, BitMEX was founded by Ben Delo, Samuel Reed, and Arthur Hayes. All of them shared expertise in the financial services industry. Originally the company was founded in 2014 in Seychelles under the name HDR (Hayes, Delo, Reed) Global Trading Limited.

BitMEX works differently as compared to other firms and is more suited to experienced campaigners. As a user, you can trade contracts for cryptos, in combination with margin trading, rather than the tokens themselves. Although the company offers contracts for different cryptocurrencies, you can only use bitcoin for withdrawals and deposits.

Currently, it is a growth period for the company, and they have recently hired Alexander Höptner as their new CEO. Alexander is a renowned name on the German Stock Exchange. If you are a beginner, then you should study this company well because it mostly suits the experienced traders.


? BITMEX BEST EXCHANGE FOR BUYING & TRADING CRYPTO ?

Visit the Official BitMEX website

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